Features & benefits

Lower interest rate

Borrow at a lower rate than an unsecured loan by using the car that you own or the car you’re buying as security for a secured personal loan.1

Choose a term and repayment frequency to suit you

Pay weekly, fortnightly or monthly over one to seven years.

Stay in control with a fixed interest rate

Interest is fixed so you know what your repayments will be for the life of the loan. See more about rates and fees.

A loan amount that works for you

Borrow from $4,000 to $100,000, depending on the value of the car.

Flexibility to make extra repayments

Up to an additional $1,000 per year.2

Manage your loan anywhere, any time

Make repayments and track your loan in NetBank and the CommBank app.

Purpose of the loan

Buying a car

A Secured Personal Loan can be used for buying a new or used car up to five years old that doesn’t have any finance owing on it. The amount can be for the full or partial purchase price depending on whether you’ve paid a deposit. You’re unable to borrow for additional loan purposes (e.g. a car for $20,000 and furniture for $5,000 is not accepted) when buying a car.

How to apply

Apply online and get a response within 60 seconds.

Alternatively, call us on 13 14 31, between 8am – 8pm (Sydney/Melbourne time) or visit your local branch.

Apply now

All other loan purposes

If you’re not buying a car, a Secured Personal Loan can be used for multiple loan purposes where you are able to provide your existing car that’s up to five years old, comprehensively insured and doesn’t have any finance owing on it as security for the loan. 

How to apply

Call us on 13 14 31, 8am – 8pm (Sydney/Melbourne time) or visit your local branch.

Online application coming soon

Considering loans? 

Find out more about Variable Rate or Fixed Rate personal loans.

Find out more about the difference between secured and unsecured loans

What does security mean?

A secured personal loan is a loan guaranteed by an asset, such as a car. The lender uses this asset as security, which means that if you don’t make the agreed repayments the lender can take possession of the asset and sell it to cover the cost of the loan. This security means that the lender can offer a lower interest rate for the loan.

Rates & fees

Rates

Rate type
Interest rate
Fixed rate
Range: 6.99% p.a. to 9.99% p.a.
Representative rate: 7.99% p.a.^
Comparison rate
Range: 8.05% p.a. to 11.03% p.a.
Representative rate: 9.04% p.a.*

Things you should know

^ At least half of our customers will receive the representative rate or lower. It may not be the actual rate you receive.

Your interest rate will be based on a number of factors, including the information you provide and our assessment of your application. We'll confirm your interest rate in your loan offer document

* The comparison rate is based on a $30,000 secured loan over 5 years. WARNING: The comparison rate applies only to the example given above. Different amounts and terms will result in different comparison rates. Costs such as early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Fees

Fee type
Definition
Amount
Establishment fee
Upfront cost payable when accepting a loan
$250
Loan service fee
Monthly charge to cover costs of keeping the account active
$10 per month

An upfront fee of $250 and ongoing monthly fee of $10 will apply, consider these fees when deciding whether this loan suits your needs. Some additional fees, including a late-payment fee, government charges and other electronic banking fees may also apply.

Tell me more

Not sure which personal loan is right for you?

Tools & calculators

Help me choose

Use our personal loan selector tool to choose between Variable, Fixed Rate or Secured.

Use selector

Repayments calculator

Understand what your repayments will be. Adjust the term and the amount to meet your budget.

Use calculator

How much can I borrow?

Estimate how much you can borrow and work out the repayments at the current interest rate.

Use borrowing calculator

Things you should know

1 The car you’re using as a security must be up to five years old, not currently under finance and has an active comprehensive insurance policy. The comprehensive insurance policy must be organised prior to loan funding. 

2 Additional repayments made on a Fixed Rate Loan are not available to be redrawn. View the Personal Loan Terms and Conditions

Applications for finance are subject to the Bank’s normal credit approval. View the Personal Loan Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges are payable.

Following the fixed rate period, if your loan hasn’t been repaid in full, the Secured Personal Loan Benchmark Rate will apply which is currently 6.99% p.a. This interest rate is effective as of 14 October 2019.

Secured Personal Loan interest rate ranges and the representative rates are set out below. Comparison rates and examples are based on a $30,000 secured loan over 5 years:

  • Interest rates range from 6.99% p.a. to 9.99% p.a. (comparison rate from 8.05% p.a. to 11.03% p.a.). The estimated total amount payable including fees is between $36,484 and $39,086
  • The representative rate is 7.99% p.a. (9.04% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $37,339

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may change the cost of the loan.